Peter Thiel’s hedge fund, Thiel Macro LLC, has fully liquidated its Nvidia position, joining SoftBank in a wave of high-profile exits from the world’s most valuable company amid rising fears of an overheating AI market. A new 13F filing shows the fund sold all 537,742 Nvidia shares, valued at roughly US$85 million at the end of Q2.
If held until market close on September 30, the position would have been worth around $100 million, but the specific timing of the sale remains undisclosed.
Thiel Macro’s exit follows SoftBank’s Q3 divestment of its entire US$5.8 billion Nvidia stake. While SoftBank said the move was a capital reallocation to OpenAI rather than a loss of confidence in Nvidia, the back-to-back exits raise questions about whether some major investors believe valuations in the AI sector are running ahead of fundamentals.
Nvidia has surged past the $5 trillion valuation mark, fuelled by insatiable demand for its advanced chips, which power the world’s most sophisticated AI models. The company remains the dominant force in the AI semiconductor market and is expected to exceed Wall Street expectations when it reports Q3 earnings on Wednesday. Wedbush analyst Dan Ives described Nvidia as a “foundational piece” of the AI revolution and maintains a bullish outlook.
Despite the sale, Thiel Macro continues to actively rotate holdings. By the end of Q3, it held positions in Apple, Tesla and Microsoft, worth more than US$74 million combined. The fund has frequently reshuffled its portfolio over the year, exiting Amazon in Q1, cycling in and out of Microsoft and ASML, and dramatically reducing its Tesla stake by 76% in Q3 after quadrupling it the previous quarter.
Tesla remains the only stock consistently present in the fund’s last four quarterly filings, reflecting Thiel’s long-standing ties with Elon Musk dating back to their PayPal cofounding days.
Thiel Macro’s portfolio has grown from US$118 million at the end of 2023 to US$212 million by mid-2025, signalling that the fund is maintaining aggressive capital movement even amid wider market uncertainty.
Dangote moves to end Nigeria’s sugar import with massive US$700m expansion drive
